SPY is Doing ABC Medium Term Correction
Updated
Technical Analysis:
- As you can see in the chart, SPY is doing a short term wave 3 in red
- We expect that it will extend lower to finish correction around $300 ~$310 in the orange circle to complete the ABC correction of the wave II in red
- H1 & H4 Right Side is Turning Down
Technical Information:
- SPY is a ETF and it has a very strong correlation with SPX Indices
- As you can see in the chart, SPY is doing a short term wave 3 in red
- We expect that it will extend lower to finish correction around $300 ~$310 in the orange circle to complete the ABC correction of the wave II in red
- H1 & H4 Right Side is Turning Down
Technical Information:
- SPY is a ETF and it has a very strong correlation with SPX Indices
Trade active
Technical Analysis:
- As you can see in the chart, SPY is doing a ABC correction in black
- H1 & H4 Right Side are Turning Down
- If SPY crosses the wave B in black, the short term correction will be finished.
- For now we expect that the correction continues to finish the wave II in red
Technical Information:
- Don't buy SPY now and wait for around $310 to buy
Trade active
Technical Analysis:
- As you can see in the chart, SPY is doing a ABC correction in black
- H1 & H4 Right Side are Turning Down
- If SPY crosses the wave B in black, the short term correction will be finished.
- For now we expect that the correction continues down to finish the wave II in red
Technical Information:
- Don't buy SPY now and wait for around 3310 to buy where we expect smart buyers will appear
- We like to sell when wave (4) in blue is complete
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